Funding you earn now, next payment 04:00 UTC+0.3902%/8h= +427.3% APRpaid last 24h +0.112%
Price spread now: Gate against Kraken Futures+0.209%51s7-day average −0.139% · you sell dearer than you buy
Net, funding: paid 7d − costs−$281as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$2722.717% of the position
Funding, last 7 days−0.097%−$10 on $10k
+Price spread, last 4 days (all we have)−0.740%−$74 · spread now +0.209%, 7d avg −0.139%
=Both sides work for this trade now. Funding pays +$117 a day on $10k at the current rate, and Gate is 0.347% dearer against Kraken Futures than usual: you sell high and buy low: +$35 more if the spread goes back to its 7-day average of −0.139%. Mind the row above: over the last 7 days funding on this pair cost −0.097%, so the current rate has only just turned in your favour. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.097% in total (about -5.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_RAYUSD | 1.7976 | −0.3802 | get 0.0475% / 1h | 3m 24s | $90K | $424K | 10x |
| Short | Gate RAY_USDT | 1.8013 | 0.0100 | get 0.0050% / 4h | 3m 24s | $580K | $1.2M | 25x |
Kraken Futures PF_RAYUSD
Gate RAY_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $819.43
- Price spread: +0.209% → −0.139%
- $34.72
- Slippage, 4 orders
- −$246.7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- $582.45
- Costs to cover
- 2.717%
- Break-even
- 2.0 days
Slippage from Kraken Futures: live order book, 54 min ago; Gate: live order book, 4 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Kraken Futures live order book, 54 min ago | 65.52 bp | 105.1 bp −$105 | doesn't fit | doesn't fit | doesn't fit |
| Sell Gate live order book, 4 min ago | 6.67 bp | 54.6 bp −$55 | doesn't fit | doesn't fit | doesn't fit |
RAY on 16 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_RAYUSDlong | −0.3802% | 1h | 1.7976 | long leg | $90K | $424K | 10x | |
| MEXC RAY_USDT | −0.0347% | 8h | 1.8038 | +0.348% | $12.6M | $2.5M | 100x | as long as short |
| gTrade (Gains Network) RAY/USD | L +0.0001% / S +0.0056% | 1h | 1.8037 | +0.343% | $1K | — | 150x | as long as short |
| Injective RAY/USDC PERP | +0.0033% | 1h | 1.6428 | −8.609% | $266 | $25 | 5.5x | as long as short |
| OKX RAY-USDT-SWAP | +0.0100% | 8h | 1.8037 | +0.342% | $4.4M | $13.0M | 20x | as long as short |
| Gate RAY_USDTshort | +0.0100% | 4h | 1.8013 | +0.209% | $580K | $1.2M | 25x | |
| KuCoin RAYUSDTM | +0.0100% | 4h | 1.8020 | +0.248% | $1.9M | $788K | 50x | as long as short |
| Bitget RAYUSDT | +0.0100% | 4h | 1.8035 | +0.331% | $2.6M | $3.7M | 25x | as long as short |
| BingX RAY-USDT | +0.0100% | 4h | 1.8036 | +0.337% | — | $2.0M | — | as long as short |
| Variational Omni RAY | +0.0100% | 4h | 1.7978 | +0.016% | $697K | $868K | — | as long as short |
MEXC RAY_USDT
gTrade (Gains Network) RAY/USD
Injective RAY/USDC PERP
OKX RAY-USDT-SWAP
KuCoin RAYUSDTM
Bitget RAYUSDT
BingX RAY-USDT
Variational Omni RAYShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bullet RAY-USD | +0.0100% | 1h | 1.8056 | +0.448% | $68K | $66K | 10x | as long as short |
| SunX RAY-USDT | +0.0100% | 4h | 1.8009 | +0.186% | — | $2.4M | 10x | as long as short |
| HTX RAY-USDT | +0.0100% | 4h | 1.8012 | +0.203% | $13K | $90K | 20x | as long as short |
| BloFin RAY-USDT | +0.0220% | 8h | 1.7985 | +0.053% | $254K | $903K | 20x | as long as short |
| Lighter RAY | +0.0440% | 1h | 1.8039 | +0.353% | $260K | $311K | 5x | as long as short |
| Orderly PERP_RAY_USDC | +0.1322% | 4h | 1.8087 | +0.620% | $324K | $400K | 10x | as long as short |
Bullet RAY-USD
SunX RAY-USDT
HTX RAY-USDT
BloFin RAY-USDT
Lighter RAY
Orderly PERP_RAY_USDC